The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California.
In transactions that reduce the existing payment on a homeowner’s mortgage loan for a period of no less than 5 years, a distressed property consultant shall not claim, demand, charge, collect, or receive any fee, interest, or any other compensation that exceeds the lesser of the homeowner’s: (1) existing monthly principal and interest mortgage
One of the most devastating aspects of the current financial crisis for homeowners is the prospect of losing their homes to foreclosure, and many homeowners have fallen victim to foreclosure rescue and loan modification schemes. In 2009, the administration created the Financial Fraud Enforcement Task Force (FFETF), which is led by the Department of Justice (DOJ), to combat these and other.
Foreclosure Rescue Scams & Loan Modification Fraud On November 17, 2009, the Departments of Justice, Treasury, Housing and Urban Development (HUD), and the Securities and Exchange Commission (SEC) announced the establishment of an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime.
Nonfarm payrolls added 54,000 jobs in May Nonfarm payrolls increased 54,000 last month, the Labor Department said on Friday, with private employment rising 83,000, the least amount since June. Government payrolls dropped 29,000. Economists polled by Reuters had expected payrolls to rise 150,000 and private hiring to increase 175,000 in May.
I thank the State Police for their bringing accountability and justice to this elaborate and deceitful plot.” In December 2018, both defendants were arrested on a 19-count indictment charging.
First look: Movement Mortgage hires LO rock star from Guaranteed Rate No Private Mortgage Insurance Required – The vast majority of people who take out mortgages have to pay anywhere from $100 to $200 extra per month, on average, in order to pay for mortgage insurance. Mortgage insurance is required for most people who have less than 20% equity in their homes, in order to protect their lenders in the case of default.Home prices rise 0.3% in August, up 5.6% since January CPI for all items rises 0.2% in July as shelter index rises. In July, the Consumer Price Index for All urban consumers increased 0.2 percent seasonally adjusted; rising 2.9 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy rose 0.2 percent in July (SA);
Records introduced at trial showed each of these defendants personally received hundreds. to justice.” “Mortgage fraud is an incredibly destructive crime that leaves many victims in its wake”, said.
Mortgage Fraud Crimes & Charges. The crime of mortgage fraud only takes place if omissions are made or false information is intentionally submitted. accidental mistakes, therefore, do not constitute a crime. It is very difficult to make the distinction between these two, particularly when an individual home buyer is involved.
Bait-and-Switch. In a bait-and-switch scam, con artists give you papers they claim you need to sign to get another loan to make your mortgage current. But buried in the stack is a document that surrenders the title to your house to the scammers in exchange for a "rescue" loan.
Friday Funding: EverBank correspondent division positions itself for market shift Monday Morning Cup of Coffee: Hurricane Matthew causes billions in insured property losses It is time once again for our infamous morning cup of random. Grab your coffee and start your day with some craziness from around the world. In 2008 disaster struck the united states of America with Hurricane Ike. Luckily it prepared many people for the recent Hurricane Harvey. I still can’t get over this picture of Buffalo Bayou!Pennsylvania Housing Finance Agency funds leadership training Florida single-family home prices up 14% over last year The industry is in dire need of appraisers The good appraiser attends local meetings of appraisal associations to keep up on the latest trends. The good appraiser keeps track of the pulse of the market by talking with buyers, sellers, and real estate agents. The good appraiser makes some clients upset by considering changes in market conditions when evaluating comps.Additional Weatherization Resources Weatherization Resources and External Sites NASCSP (National Association for State community services programs) The National Association for State Community Services Programs (NASCSP) is the premier national association charged with advocating and enhancing the leadership role of states in preventing and reducing poverty.Wells fargo reported earnings friday. origination was up 11% QOQ to billion. purchase activity accounted for 58% of originations. The banking giant beat revenue expectations – thanks in large part.